I purchased a home in 2017 and lived there for 3 years. I then rented the house for one year and sold it in November 2021. I am having problems with entering this information into Turbotax and getting the right tax. I entered all my rental details and it correctly allowed my passive loses. I then tried to enter the sale of the house in the rental property input section. It calculated a huge gain, no Section 121 exclusion allowed s/b $500,000 and no depreciation recapture.
I then tried to enter the sale in the Sale of Home section. This seems to have double my problems. Please note that nothing has flowed to Sch D. I am totally confused.
Any advice on the proper method to enter the sale and get the exclusion?
